Some insurers offer a single-premium deferred annuity that does not begin paying benefits until an advanced age, such as 85. This product is called

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The product described is called longevity insurance, which is designed to provide a guaranteed income stream for individuals who live past a certain age (in this case, 85). It is often used as a form of retirement planning, as it allows individuals to defer a portion of their retirement savings until later in life while still ensuring a source of income during their later years. Endowment insurance and equity-indexed annuities are different types of products that do not specifically address longevity risk, and life income with guaranteed payments annuities typically do not have such long deferred periods.

Some Insurers Offer a Single-Premium Deferred Annuity That Does Not